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ME Group (Photo-Me) - Announces 6.5p special dividend

September 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MEGP
  • Price:
  • 104p

Shares in ME Group (the new name for Photo-Me) jumped after it announced a special dividend of 6.5p, which accompanied strong interims with revenue up 22% to £115.3m and pretax profit increasing 24% to £16m.
Results were driven by returning demand for photo ID services (ahead of expectations) with revenues up 27% to £66.9m while the expansion of its Revolution laundry machines continues apace (sales +37% to £25.3m).
ME also upgraded its full year guidance for pretax profit of £47m-£50m. Canaccord forecasts eps of 10.0p.
Highlighted as an idea in May ’21 at 62p, the shares have gained 78% including the special dividend. I am holding for more.

* The writer has a holding

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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